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    412 Holly Lane Mankato, MN 56001

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    Claim this Listing
    For Sale
    $1,195,000

    4-plex, Multi-Family - Mankato, MN

    Type:Multi Family
    Property size:
    6,528 SF
    Lot size:
    0.44 Acres
    Price / SF:
    $183/SF
    Added:
    Apr 3, 2026
    Days on Market:
    29
    Last Refresh:
    May 1 at 3:06 pm

    Property Features for 412 Holly Lane

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Bedrooms
    12
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    4
    Parking features
    Garage, Garage - Attached
    Fireplace
    1
    Standard status
    Active
    APN
    R01.09.16.102.005
    Size
    6,528 SF
    Lot size
    0.44 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    10694

    Utilities

    Heating system
    Fireplace(s), Forced Air
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Number of units
    4
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    SHAWNA WOLFE
    SHAWNA WOLFE

    Listing agent SHAWNA WOLFE License #20215401

    Listing office Keller Williams Premier Realty 2765 Commerce Drive NW, Rochester, MN

    Listing date Apr 3, 2026

    MLS# 7039849 Listing URL

    Copyright © 2026 Realtor Association of Southern Minnesota. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Mankato 4-Plex Townhome

    This fully renovated and fully occupied 4-unit townhome property in Mankato, MN, offers modern appeal and immediate income stability. Each spacious unit features 3 bedrooms and has been thoughtfully updated from top to bottom. Recent improvements include stainless steel appliances, updated plumbing and lighting, and new fixtures throughout. High-efficiency mechanicals include a furnace, A/C condenser, and tankless water heater. The interiors showcase stylish finishes with new tile flooring, plush carpet, fresh paint, and beautifully updated kitchens complete with new cabinetry and granite countertops. Bathrooms feature elegant marble vanities, and each unit includes its own high-efficiency washer and dryer for added convenience. Additional amenities include a single-stall garage with keyless entry and a private rooftop deck with maintenance-free decking. Each unit generates top market rents, with tenants responsible for all utilities, making this a turnkey, low-maintenance investment with solid cash flow. The property is situated on a lot of 0.44 acres and the building size is 6,528 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Nicollet
    State
    Minnesota
    Longitude
    -93.968829
    Latitude
    44.164592

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    FAQs

    What type of property is this?
    Quadplex - Fully renovated, occupied 4-unit townhome with modern appeal and income stability.
    Where is this quadplex located?
    The property is located at 412 Holly Lane Mankato, MN.
    What is the asking price?
    The asking price for this property is $1,195,000.
    What are key features of this property?
    This property features: Fully occupied 4‑unit townhome property provides immediate income stability.; Each unit is **fully renovated with modern finishes**, including stainless steel appliances, granite countertops, and marble vanities.; **High‑efficiency mechanicals** (furnace, A/C condenser, tankless water heater) reduce operating costs.
    (507) 420-1877
    We can help!
    Listing Contact
    SHAWNA WOLFE
    SHAWNA WOLFE
    Real Estate License ID: 20215401
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    412 Holly Lane, Mankato, MN 56001

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